Evaluation of Cash Management of Guico-Olivares Pharmacy

In: Business and Management

Submitted By lhyncabungcal
Words 4386
Pages 18
CHAPTER 1
INTRODUCTION
I. BACKGROUND OF THE STUDY
Pharmacies are very important business establishments in a community or city because this is where people buy drugs and other medical supplies needed especially for home medications, hospitals, or emergencies. Pharmacies are varying in demand anywhere that is why this can also be a good business idea. The main job of a pharmacy is to fill prescriptions made by doctors or other medical professionals. A pharmacist offers advice on medication and a pharmacy technician helps package the prescription. Today, added services are being offered by most pharmacies while some also have their own health and food convenience stores. Some medicines that can be bought from pharmacies don’t require prescription.
Handling a business is not easy as one two three. An interested owner that deals with selling of pharmaceutical products need determination to operate business, the guts to get it going, the power to motivate his employees and the financial commitment to make it happen. You should also be competitive, a positive thinker and a goal minded person in order for you to make the business successful. One of the ways to be successful in business is to manage the cash properly and wisely.
Cash management is a marketing term for certain services offered primarily to larger business customers. It may be used to describe all bank accounts (such as checking accounts) provided to businesses of a certain size, but it is more often used to describe specific services such as cash concentration, zero balance accounting, andautomated clearing house facilities. Sometimes, private banking customers are given cash management services.
Cash management is a broad area having to do with the collection, concentration, and disbursement of cash including measuring the level of liquidity, managing the cash balance, and short-term investments. If at…...

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